This compound is primarily utilized in organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of various biologically active molecules, particularly in the synthesis of indole-based compounds. Its structure makes it valuable for constructing complex heterocyclic frameworks, which are often explored for their potential therapeutic properties. Researchers leverage it in the design and synthesis of drug candidates targeting neurological disorders, cancer, and infectious diseases. Additionally, it is used in the preparation of fluorescent dyes and probes for biochemical studies, aiding in the visualization and analysis of cellular processes. Its versatility in chemical reactions makes it a valuable tool in medicinal chemistry and material science.